100 Million KRW Disaster Relief Fund per Household for Farmers, Fishermen, and Foresters... Supplementary Budget Increased by 1.6 Trillion KRW

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Moon Chaeseok] Farmers, fishermen, and foresters will also receive 1 million won per household as part of the 4th disaster relief fund. They had previously been excluded from the government's disaster relief fund recipients.

On the 17th, the National Assembly's Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee held a plenary session and decided to provide 1 million won per household to farmers, fishermen, and foresters, passing a supplementary budget bill increasing the budget by 1.6296 trillion won. The supplementary budget bill will be finalized once it passes the National Assembly's Budget and Accounts Committee review and is approved in the plenary session.

The newly allocated budget includes ▲1.1247 trillion won for disaster relief payments to farmers ▲51 billion won for disaster relief payments to fishermen ▲80 billion won for disaster relief payments to foresters.

In addition to the disaster relief funds, additional allocations include ▲200 billion won for expanding contributions to the Agricultural, Forestry, and Fisheries Credit Guarantee Fund ▲68 billion won for rural employment support ▲21 billion won for eco-friendly agricultural materials support projects ▲68 billion won for rural employment support ▲28.9 billion won for national subsidy route deficit compensation, among others.

The decision to increase the supplementary budget reflects the wishes of farmers, fishermen, and foresters who were excluded from the 3rd and 4th disaster relief payments despite suffering significant economic damage due to the COVID-19-induced economic downturn and impacts on flower farms.

Earlier, President Moon Jae-in stated at a meeting with the Democratic Party floor leaders held at the Blue House on the 10th, "If there is no disagreement between the ruling and opposition parties, I will instruct to reflect this."

If this increase passes the Budget and Accounts Committee and the plenary session, the scale of the 4th disaster relief fund will expand from 19.5 trillion won to over 21 trillion won.

This content was produced with the assistance of AI translation services.